Some HOA board members might consider accounting boring or difficult, but its role in financial stability is undeniable. Before anything else, your HOA must decide on a basis of accounting to use for financial reporting. While the cash basis for HOA financial statements is the easiest, it’s not exactly the best. Using Cash Basis…
The financial responsibilities of HOA boards are far-reaching and wide. While some of these responsibilities are obvious, others may surprise you. Let’s break down the many financial duties you, as a board member, must fulfill. Remember These Financial Responsibilities of HOA Boards As a member of an HOA board, you are representing your entire…
Remote HOA management — you have probably heard of the service from a friend or fellow board member. But, what is remote HOA management anyway? And is it really something your community can benefit from? What Is Remote HOA Management? Remote HOA management is a new model for community management offered by numerous companies.…